Nifty, Sensex are expected to start higher; the spotlight is on HDFC Bank and Reliance

Stock market news: Driven by a recovery in Asian markets, Indian stocks are set to begin the week well. As investors assess HDFC Bank’s quarterly performance, all eyes are on the bank.

The GIFT Nifty was trading at 22,281 as of 8:14 am, indicating an opening above the Nifty 50’s finish on Friday of 22,147.

The S&P BSE Sensex and Nifty benchmark indices showed slight increases last week, led by HDFC Bank. On the other hand, each indicator showed a weekly decrease of almost 1.6%.

Despite challenges from Middle East geopolitical unrest and rumors about potential changes to US interest rates, Asian markets recovered on Monday, rising 1%.

The heavyweight stock in the Indian benchmark indices, HDFC Bank, continues to be the center of attention. The bank’s quarterly earnings kept lending margins steady while coming up slightly short of projections because of higher provisions.

Wipro, the nation’s fourth-largest software services exporter, also attracts investor interest since this week marks the release of results for over 10 Nifty 50 businesses.

The most valuable firm in India, Reliance Industries, will release its earnings later today.

Important equities to keep an eye on
The HDFC Asset Management Company announced a dividend of 70 rupees per share and reported a 44% increase in consolidated net profit for the March quarter.
Indian Renewable Energy Development Agency: The company’s quarterly earnings increased by 33%.
Laurus Laboratories LAUL.NS: Verified that the US drug regulator had finished examining its Anakapalli facilities and had not issued any Form-483 remarks.
Important profits for today: Hatsun Agro Products, Mahindra Logistics, Rallis India, and Reliance Industries.